STUDENT LOANS-TEACHER FORGIVE
Summary
Amends the Higher Education Student Assistance Act. Creates the Teacher Loan Repayment Program. Provides that the Illinois Student Assistance Commission shall consider applications for forgiving portions of qualified applicants' educational loans each year. Provides that 10% of the applicant's yearly loan balance shall be forgiven each year for 5 years or until 50% of the applicant's outstanding balance at the time of the initial application is paid off. Effective July 1, 2022.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2022
Committee Review
Floor Vote
Governor
Introduced Jan 21, 2022
Last action Jan 10, 2023
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
7
Key actions
0
Committee
3
Jan 10, 2023
Senate · Failed
Session Sine Die
Feb 10, 2022
Senate · Referred to committee
Rule 3-9(a) / Re-referred to Assignments
Feb 1, 2022
Senate · Referred to committee
Assigned to Appropriations
Jan 21, 2022
Senate · Referred to committee
Referred to Assignments
1 primary · 0 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Ram Villivalam
DDemocratic
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